The global hair removal service market is expected to value at over US$ 15 Bn in 2019 and is expected to register a CAGR of 4.5%. The global baby video monitor market is segmented on the basis of service center, gender, and region.

Hair removal services refer to the use of various methods such as lasers, wax and strips, other instruments, etc. for removal of unwanted hair on face and body by pulling out hair follicle in order to slow hair growth process or stop growth.

Reasons for hair removal can include, fashion, culture, believes, religious reasons, medical requirement, sports, or compulsion such as in military sector.

Global Hair Removal Service Market Dynamics:

Increasing preference and inclination towards appealing physical appearance, or for personal hygiene, and easy accessibility to a range of beauty services and products is a major factor expected to drive growth of the global hair removal service market to a significant extent. For instance, according to the American Society for Aesthetic Plastic Surgery (ASAPS) statistics, around 178,488 hair removal procedures were performed in 2017, of which 159,862 procedures were performed on female, and 18,626 procedures were performed on male customers or clients.

In addition, increasing technological advancements in development of products for hair removal services is another key factor expected to drive growth of the target market.

Moreover, increasing number of dermatology centers and beauty salons and rising number of professionals offering these services is anticipated to result in large number of customer footfalls and high adoption of hair removal services. This is expected to lead to high growth of the global market in the years to come.

However, rising preference for removing hair at home, easy availability of hair removal products and rising trend of shopping on E-commerce websites for consumer good after comparing various products are major factors that could result in low adoption of hair removal service and hamper growth of the target market to a certain extent.

Analysis by Product Service Center:

Among the service center segments, the dermatology clinics segment is projected to register highest CAGR of over 4.2% in the global market. Rising prevalence of infection due to hair and need to treat or remove hair is expected to lead to higher footfalls in dermatology clinics.

In addition, the beauty salons segment is estimated to dominate in the target market currently, and is projected to dominate till 2028. Increasing number of beauty salons and rising awareness regarding aesthetic look among individuals is a key factor expected to drive revenue contribution and growth from this segment.

Analysis by Application:

Among the gender segments, the men segment is expected to register the highest CAGR of over 4.4% in the target market in terms of revenue. Rising awareness among the men about need for hair removal for hygiene purposes and inclining trend regarding removal of body hair, especially among models, is a major factor expected to drive revenue growth of this segment in the global market.

In addition, the women segment is estimated to account for highest share in terms of revenue, and is projected to be a dominant segment in the global hair removal service market in the next 10 years.

Analysis by Region:

The market in North America is accounted for major share in terms of revenue in 2018 and is projected to continue dominating in the global hair removal market over the next 10 years. This can be attributable to North America being a hub of fashion, and early adoption of technologically advanced products and services.

The market in Asia Pacific is expected to register second-highest CAGR over the forecast period, owing to rising westernization and increasing awareness regarding importance of hair removal. In addition, The Asia Pacific market is expected to follow the North America market in terms of revenue share and account for second-major revenue share in the global market.

The Europe market is projected to register moderate CAGR over the next 10 years from 2018, followed by markets in Latin America and Middle East & Africa.

The market is Middle East & Africa is expected to account for moderate share in terms of revenue in the global hair removal service market, and grow slowly over the forecast period. Rising popularity of Middle Eastern waxing – also known as sugaring – across various countries in this region is a key factor driving growth of the Middle East & Africa market.

Moreover, presence of certain players, coupled with innovative product launches by companies in various countries in this region in order to expand respective product portfolios is another reason for growth of the market in the Middle East. For instance, Israel-based company – Lumenis Ltd. – launched new laser hair removal solution – SPLENDOR X – which is the first solid state laser system equipped with unique BLEND X technology for fast and effective hair removal and skin solutions, at the American Society of Dermatological Surgery (ASDS) in Phoenix in October 2018.

Certain key developments of companies include:

In March 2019, Lumenis Ltd., which is an energy-based medical device company, launched brand technologies in the hair removal category named: LightSheer, QUATTRO, and SPLENDOR X.

In October 2018, Lumenis Ltd., introduced new laser hair removal solution named SPLENDOR X at American Society of Dermatological Surgery (ASDS). The solid state laser system is equipped with unique BLEND X technology, which helps fast and effective hair removal and skin solutions to end users.

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